Invoicing software products available

If you’re a small business owner who’s decided to start selling to customers overseas, then you’re going to have to manage the arts of trading in different currencies.

Thankfully, there are some excellent software products available out there to help you. These accounting solutions will usually bring you additional benefits, such as money order software, database marketing and the use of sophisticated data distribution solutions to help you run your business with real-time data from different devices when you’re on the go.

Here’s our FXCompared guide to the small business-friendly accountancy invoicing software solutions available.

QuickBooks

Compatible with Mac and Windows, QuickBooks accounting software provides small businesses with software tools designed to manage customers, sellers and clients, including setting up database marketing. Its excellent “Report Centre” tracks key aspects of your business, such as sales, income and company growth.  

Features include:

·         QuickBooks Multi-Currency: online money transfer software assigning relevant currencies to overseas customers, suppliers, bank accounts and credit cards, while tracking currency exchange rate fluctuations and paying and receiving payments in a customer’s or supplier’s preferred currency

·         Chart of Accounts containing company financial data (checking, savings, dividends, accounts receivable, balance sheets, account balances, account numbers, contact details)

·         Vendor, Customer and Item Lists

·         Report Centre (see above)

·         Billing Statements to bill customers with charges that accumulate over a specified time interval

·         Invoices for customers who buy in a single transaction

·         Data distribution capabilities enabling business owners to send invoices on the spot from laptops, smartphones or tablets

SAP

The third-largest software giant, behind Microsoft and Oracle, SAP is a German-headquartered firm that launched in 1972 and provides top-tier accounting software products for businesses of all sizes, including small enterprises, via its “Business One” offering.

Key features of SAP Business One include:

·         Cloud or on-premise availability

·         Multicurrency Accounting: online money transfer software that optimises management of foreign currencies in your business systems

·         Database marketing and other customer relationship management functions with Business One CRM

·         Accessible, accurate and timely reports based on key performance indicators with SAP Crystal Reports

·         Business One Sales: a module with a full span of sales functions (creating quotations, document drafts and automating invoices), with information readily available via intuitive, interactive dashboards

·         Data distribution capabilities for real-time data accessible from mobile app and laptops/desktops

Xero

Xero is a popular cloud-based accounting software platform designed with small businesses in mind. Founded in New Zealand in 2006, the company has enjoyed outstanding growth rates and has offices in the Australian, US, UK and European markets as well as New Zealand.

Automated features include:

·         Data distribution capabilities, allowing you to run your business from anywhere, even while on the go (laptop, desktop, iOS and Android smartphone and tablet devices)

·         Cloud accounting that allows businesses to send invoices to customers online and receive updates as soon as they’re opened; includes money order software

·         Multi-currency handling (dependent on subscription plan)

·         Inventory tracking (speeds up invoicing while tracking purchases and sales)

·         Expense claims

·         Reporting

·         Bill payments

·         Quote generation

·         Creation of purchase orders

·         Sales tax

·         Contact management and database marketing

·         File management

Panda Accounting

Panda Accounting is a US-based provider of accounting software products for individual consumers, small businesses and non-profit organisations, offering bookkeeping, payroll processing and tax preparation services, as well as leveraging the power of QuickBooks invoicing and accounting software. It offers Payroll Processing, including:

·         W2 and 1099 processing

·         Electronic payment of payroll tax duties to government agencies

·         Direct depositing

·         Delivery of pay stubs to all employees

·         Processing all federal and state payroll tax and unemployment filings

It offers QuickBooks Services to help small businesses get the best out of this accounting software, including:

·         QuickAnswers service for fast and accurate initial set-up and installation, saving small businesses hours

·         QuickBooks Training to help employees get the best out of QuickBooks once it’s been properly set up and installed

·         QuickBooks Tune-up to clear digital clutter and optimise its functionality

·         Online Backup of all QuickBooks files to protect critical business data

·         Discount of 20% on newest version of QuickBooks

·         Expert-performed tax return preparations services for small businesses

For small businesses seeking to expand and trade with overseas customers and suppliers, the range of excellent and affordable invoicing software products currently available is good news for all commercial enterprises that lack the formidable financial resources that big companies have at their disposal to invest in their own dedicated, in-house accounting departments. The software products reviewed here include online money transfer software, currency exchange solutions for invoicing and paying suppliers, and excellent database marketing solutions.

The sheer choice of accountancy software products available, however, should give business owners pause for thought. Some are more suited to certain businesses than others. Find the best rate and reputable forex agent for international payments here at FXCompared.com.